Paulson opposes using bailout money for bailout

Treasury Secretary Paulson is fighting Congress on usage of the TARP bailout money. Wow, imagine that. People that were paying attention when this was being proposed threw up the red flags that in the bill, it was up to the controllers to decide how to use the money and that no over sight would be allowed. Now that all the Congress voted for it, they are upset that there is no over sight allowed. No shit dumbasses. Read article here.

Congress want part of the TARP money used for the automaking industry and some for home mortages to help thousands more not lose their homes. Paulson says , no sorry we aren’t using it for that. Instead he has already given $40 billion to just one company , AIG, who has humbly operated since recieving the bailout (spa visits, hundred thousand dollar company retreats…)

Even though the House initially did their jobs (listened to the people and not to their cronies) and voted down the bailout on the first try, as always in Washington, the corruption won out and $700 billion was taken from us, the people, to help make sure that the top 1% didn’t have to change their lifestyles because the markets they bled dry, well, went dry.

If the big automakers do go belly up, it will mean the losses of up to a million jobs. It WILL be a horrible thing. But let us also remember that the automakers are plenty at fault for the mess we are all in now as well. They have been among some of the worst ‘job-shippers’ along with their suppliers for the past 25 years. They were not concerned with job loss when it was simply threatening their bottom line, but now since their entire business is shakey, they are all about job protection. But to zoom out of that picture a little bit, the reason jobs went overseas and prices on cars stayed in the insane level is because of the auto industry workers union. Their union actually fought for the pay and benefits of the autoworkers to try and keep up with inflation, whereas most didn’t. Why is there inflation? Because of the Federal Reserve and it’s practices of printing funny money and killing the value of our dollar.

Do we save the auto industry? We have to at this point. But the real ‘fix’ to all of this is totally changing our currency and telling the Federal Reserve to piss off, they aren’t getting their interest anymore. It was a bad business deal from the start so let the actual pilots of this doomed ship go down with it. Let the rest of us off the hook.